The Fed cut the federal funds rate by 25 basis points this week and further cuts are expected. Even if interest rates on mortgages don’t come down much more, demand for loans is expected to increase.
The Trump administration is ramping up discussions regarding reforms to the government-sponsored enterprises but it’s still not clear what the result will be. Whether Congress will take action is also an open question.
Figure Technology Solutions completed an IPO late last week, pricing the transaction at a higher level than anticipated and selling more shares than initially contemplated.
loanDepot’s common now trades for almost $5.00 a share after being close to $1.00 for much of the year. Theories for the shift include factors specific to the company or signs that the industry is turning the corner.
The CFPB’s potential rescission of the LO compensation rule won’t fully exempt mortgage companies from the rule’s requirements, according to an industry attorney.